LiveStation is a platform for distributing live television broadcasts over a peer-to-peer data network. It is being developed by Skinkers Ltd. based on peer-to-peer technology acquired from Microsoft Research.LiveStation uses a Silverlight front-end to playback broadcast streams received over a peer-to-peer overlay network.Unlike services such as Joost which offer video on demand channels, LiveStation can distribute live broadcasts. The company is currently talking to broadcasters about offering their channels on LiveStation.
The software is currently available in a invitation-only beta for Windows, with Mac version being made available soon. The system can also be ported to Windows Mobile once a port of Silverlight is made available on that platform.
For More Info : http://www.livestation.com